SysMind’s Post

Emerging technologies are top of the mind for risk managers in 2024! In our recent webinar with Michael Rasmussen, we polled the audience of over 140 risk professionals to shed light on their top challenges in enterprise risk management for this year. Emerging technologies like AI topped the list, closely followed by a lack of visibility into risk and fast-moving regulations. How is your organization managing enterprise risks? Let us know in the comments below. Here’s the link to the webinar recording which you can watch at your convenience: https://hubs.li/Q02sTbvY0 #ERM #riskmanagement #resilience #GRC

Operational Risk: The Secret Weapon in Your ERM Arsenal Forget hiding from operational risk - it's your secret weapon for building a rock-solid ERM strategy! Why? Because operational risk, the day-to-day hiccups in your processes, people, and tech, actually reveals hidden threats across your entire business. ️ 💡 Think of it like this: Operational risk is the canary in the coal mine, warning you of trouble before it explodes. It helps you spot weaknesses in your overall risk management, making your ERM smarter. By understanding these risks, you can make data-driven decisions that save money and boost efficiency. So, how do you unlock this power? Speak ERM: Translate your operational risk expertise into the language of enterprise-wide risk management. ️ Show, don't tell: Quantify the positive impact you've had on operational risk, like preventing losses or improving controls. Get involved: Don't be a lone wolf! Share your expertise and collaborate on ERM initiatives across departments. Remember, operational risk isn't a monster to fear - it's a roadmap to a more resilient organization. #OperationalRisk #ERM #RiskManagement #BusinessAcumen #CareerTips

In today's complex business landscape, navigating risk is more crucial than ever. The Diligent Platform centralizes critical data, offering a unified risk profile across your organization. 🌐 Join Lawrence Belcher and Sukumar Loganathan for a 30-minute demo to see how connecting your risk team to the boardroom can provide a holistic view and streamline risk management. 📊 Don't miss out on learning about key features like real-time reporting, risk identification, and more! 🔑 #Diligent # GRC #Board #RiskManagement #CorporateGovernance #DiligentOne

As we work towards enhancing oversight of our operations and mitigate potential risks, and while #impact and #likelihood are both fundamental and critical factors for evaluating operational events, we can also suggest adding a third element: Control effectiveness. Control effectiveness plays a critical role in limiting the impact of operational events and reducing the likelihood of occurring them, as well as improving our risk management strategies. Accordingly, adding control effectiveness as a third factor to evaluate operational events can provide a more comprehensive understanding of potential risks and help us proactively address any weaknesses in our organizations' workflow. By focusing not only on the impact and likelihood of events, but also on the strength of our controls. Therefore, I encourage my fellow risk management professionals to consider control effectiveness as an important element during their risk assessments. What do you think?🧏♀️ Let's discuss!👥 #effectivecontrol #riskmanagement #operationalrisk #riskassessment #mitigaterisks #proactive #systemweaknesses #comprehensive

Financial, digital and organizational risks are among the top concerns of mid-sized companies. Unfortunately, fewer than half of those companies have mitigation plans in place to address those risks, a study found. Discover how mid-sized firms can improve their risk management and risk readiness with insights from QBE North America. https://bit.ly/48Aznt6 #riskmanagement #riskmitigation #QBENorthAmerica

Risks are all the things you have not thought of that might impact your business. Sadly, most businesses do not have a dedicated risk manager, director, or executive. It is the responsibility of the CEO/MD to ensure that there is a 'risk register' and that major stakeholders are informed about it. Don't worry, it's easy to do. Make sure you have a comprehensive list of potential risks and keep it updated regularly. This will help you identify and mitigate any threats to your business before they become major issues. Stay ahead of the game and protect your business by implementing a risk management strategy today. #RiskManagement #BusinessStrategy

Your risk perspective and approach can impact the balance between avoiding failure and grabbing viable opportunities. #EnterpriseRiskManagement #GRC #BusinessGrowth #Innovation #BizComGlobal #compliancemanagement #privacypolicy

Innovative Risk Solutions: Adapting to a Changing Landscape In a rapidly evolving business landscape, adaptability is key. BlueLight Risk Services offers innovative risk solutions to help organizations proactively address emerging challenges. Our dynamic approach to risk management goes beyond traditional methods, incorporating cutting-edge strategies to identify and mitigate evolving threats. By partnering with us, you can turn uncertainty into opportunity and build a resilient foundation for your business. Embrace the future with confidence, knowing that BlueLight Risk Services is by your side, providing forward-thinking solutions for a changing world. #Adapt To A Changing Landscape #Embrace The Future With Confidence #Innovative Risk Week

Hello #LinkedInCommunity, As we wrap up the week, let's dive into the fascinating world of Risk Management. 💼💡 In a rapidly evolving business landscape, the ability to anticipate, mitigate, and capitalize on risks is paramount. The risk management industry plays a pivotal role in safeguarding businesses from potential pitfalls while unlocking new opportunities for growth. As we continue to navigate an increasingly complex and interconnected world, the role of risk management becomes even more crucial. I'm excited to be part of an industry that empowers businesses to take bold steps forward while staying resilient in the face of challenges. Let's connect and exchange insights on how risk management is shaping the future of business. Together, we can uncover strategies to thrive in uncertain times. 🚀 #RiskManagement #BusinessResilience #Innovation #DataDrivenInsights #LinkedInCommunity

In Chinese, the word for crisis (危机) is a combination of "danger" (危) and "opportunity" (机). This concept beautifully captures the essence of enterprise risk management. By identifying and mitigating risks, companies not only protect themselves from potential threats but also uncover opportunities for growth and innovation. Effective risk management enables organisations to achieve their strategic objectives with confidence. It strengthens overall resilience, ensuring that companies can adapt and thrive in the face of uncertainty. Embracing this dual nature of crisis empowers businesses to navigate challenges and seize new possibilities. #RiskManagement #EnterpriseResilience #StrategicObjectives #CrisisManagement #OpportunityinAdversity